The United States Senate is gearing up for a pivotal vote on the GENIUS Act, a landmark legislative proposal aimed at regulating the issuance and operation of stablecoins. The vote is scheduled for Wednesday, following a cloture filing by Senate Majority Leader John Thune. What Is the GENIUS Act? The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act is designed to bring regulatory clarity and consumer protection to the rapidly expanding stablecoin market. If passed, the bill would introduce federal standards for stablecoin issuers, including: This bill is being hailed as a “first-of-its-kind” regulatory framework that could shape…
Author: Blockto Team
BNB, the native token of the Binance ecosystem, is showing renewed strength following a period of turbulence in the broader crypto market. The rebound reflects fading macro uncertainty and positive growth indicators within the BNB Chain network. BNB Rallies Over 4% from Weekly Low After dropping to a weekly low of $631, BNB bounced back to around $657, gaining over 4% in just a few days. In the last 24 hours alone, the coin is up 0.7%, forming a V-shaped recovery pattern. BNB is now facing strong resistance at $657, with a key pivot level around $654. These technical levels…
A surprising security breach involving the X account (formerly Twitter) of Paraguayan President Santiago Peña has sparked confusion in global crypto circles. On Monday, a post falsely announced that Bitcoin would become legal tender in the South American country—prompting immediate clarification from the government. Fake Post Claims Bitcoin Legalization and Bond Issuance The compromised post falsely claimed that Paraguay was adopting Bitcoin as legal tender, forming a national Bitcoin reserve, and issuing Bitcoin-backed bonds. It went as far as inviting global investors to contribute funds through a Bitcoin wallet address. “Investors: your investment today will determine the scale of this…
Bitcoin has surged above $110,000, reclaiming strength after last week’s dip and edging within 2% of its all-time high. The move comes amid flat traditional markets and subdued macroeconomic activity, making it a potential turning point for the crypto market. Bitcoin Leads the Charge in a Quiet Market The world’s largest cryptocurrency rose by 3.7% in 24 hours, marking its strongest level in June. Bitcoin is now trading around $109,575 to $110,000, climbing back from a recent drop near $100,000. Leverage Flush Clears the Path Bitcoin’s rise caught short-sellers off guard. In just one hour, over $110 million in short…
In a pivotal policy moment, the U.S. Securities and Exchange Commission (SEC) has signaled a major shift toward supporting decentralized finance (DeFi) innovation. Speaking at the final of five crypto-focused roundtables, SEC Chairman Paul Atkins revealed that the agency is actively working on an “innovation exemption” to make it easier for DeFi developers to bring products to market without regulatory overreach. SEC Shifts Tone on Decentralized Finance The roundtable included agency officials and DeFi industry experts, reflecting growing interest in modernizing financial regulation for blockchain-based systems. Atkins emphasized that developers building decentralized software should not be punished for how their…
As Bitcoin hovers above $109,000, a new wave of Bitcoin treasury companies is capturing investor attention. These companies, modeled after the well-known strategy of accumulating Bitcoin as a primary corporate asset, are reshaping how markets evaluate digital asset exposure. Among the growing list, Trump Media (DJT) and Semler Scientific (SMLR) stand out for an unexpected reason — they might be the cheapest ways to gain Bitcoin exposure. The Rise of Bitcoin Treasury Companies A Bitcoin treasury company focuses its business model largely on accumulating and holding Bitcoin. With the surge in institutional and retail interest in digital assets, these companies…
In a major step toward modernizing financial oversight, the UK’s Insolvency Service has appointed its first crypto intelligence specialist to assist in bankruptcy and liquidation cases involving digital assets. Rise in Crypto Cases Triggers Strategic Hire The appointment of Andrew Small, a former police investigator, signals a growing recognition of cryptocurrencies as recoverable assets in legal proceedings. Small will bring technical expertise to help trace and retrieve crypto holdings during bankruptcies and insolvencies, particularly in cases with criminal elements. “Crypto is very much a recoverable asset,” Small said, adding that his role will involve advising on crypto types, transaction methods,…
Bitcoin (BTC) surged to $108,000 on June 9, driven by renewed market optimism, strong equity forecasts, and a massive leveraged bet by a high-profile crypto whale. The bold move signals rising confidence in a potential breakout toward Bitcoin’s all-time high. Whale Wallet Places $54.5M 20x Long Bet at $106,538 A newly created wallet, “0x1f25,” funded with $10 million in USDC, entered a high-stakes trade on decentralized exchange Hyperliquid. The trader opened a 511.5 BTC long position at an average entry of $106,538, using 20x leverage with a liquidation level at $88,141. The position is currently in profit by over $11,000,…
The native token of the Sui blockchain network, SUI, witnessed a notable 4.7% price surge in the past 24 hours, driven by triple average trading volume. This breakout coincided with global market volatility and renewed investor interest amid ongoing trade talks between the U.S. and China in London. Macroeconomic Context Supports Altcoin Momentum As global central banks signal potential monetary policy changes due to rising inflation and recessionary concerns, investors are looking for safer and more growth-oriented assets. The high-level meetings between the U.S. and China added uncertainty, pushing traders toward alternative assets like crypto. SUI formed a V-shaped recovery…
The Telegram-backed cryptocurrency TON made a significant move in the market with a 2.66% price increase, climbing from $3.15 to $3.24 before facing a swift pullback. The rally was accompanied by surging trading volume, suggesting heightened market interest, but volatility remains as the asset corrected after reaching intraday highs. Strong Breakout Driven by Volume Surge TON-USD initiated a bullish breakout early in the trading session, supported by a volume spike to 5.46 million, the highest in the 24-hour window. This strong activity pushed the token from $3.156 to a peak of $3.24, marking a 2.66% gain and signaling a potential…